According to the recent report released by the Bank of France, the French GDP showed some growth in the second quarter of the year. As for the business activity indicator, it saw almost no change in June but a slight increase is expected in July.
To be more specific, the French GDP gained 0.2% over the reporting period, if to believe he recent stats released by the local central bank. The actual figures completely matched the forecast, Masterforex-V Academy experts say.
At the same time, the report revealed June’s business activity figures. The index came in at 97 points. This means that the figures didn’t change in June relative to May. The respondents are sure that the business sentiment is going to improve in July.
FOREX
According to Masterforex-V Academy, EURUSD is still recovering from the long-term downtrend as the Euro is trying to regain some of the lost ground against its American counterpart.
To be more specific, the currency pair has competed a bearish move – wave А/В of level H8. It is now building a new bullish move, which is wave А/В of level H1, the experts say.
On breaking above the local high of 1.1199, the currency pair is probably going to continue the mentioned short-term rally by building wave A/B of level H4 or higher. If that’s the case, we may well see 1.1166 and 1.1186 acting as the next key levels of resistance. Alternatively, a break below the local low of 1.1001 is expected to start wave A/B of level H12. In this case, the key levels of support are 1.0970 and 1.0911.
